Several users came to me after their accounts were migrated to the new Outlook.com servers, looking for help restoring their contact photos, which disappeared in the migration.
While the missing photos can't be restored, if you have a backup of the Contacts with photos, you can copy the contacts from the backup to the contacts folder.
If the backup is older and not accurate, you can use a macro to save the contact photos to your hard drive then run a second macro to add those images to the contacts currently in your Outlook.com account.
You're unlikely to get all of the missing contact photos back as Outlook.com picked photos up from Skype and Microsoft Account profiles, as well as social networks.
Use this macro to save contact photos to the hard drive. The images will be named using the Contact's full name: Export (save) Outlook Contact photos
Then run this macro to import the saved images to the new contacts, again matching the Contact's full name to the image filename: Batch Import Photos into Outlook Contacts